Japanese technology company Konica Minolta, Inc. (KNCAF.PK,4902.T) Wednesday said that it has entered into a strategic deal with MJ MATERIAL TECHNOLOGY SDN BHD to develop and commercialize intelligent recycled materials, which are recycled plastics having advanced supply reliability and consistent quality.
As per the terms of the agreement, MJ MATERIAL will incorporate Konica Minolta's technologies into its new production facility in Kuala Lumpur, Malaysia, which will start operations in the spring of 2026. MJ MATERIAL will manufacture and supply intelligent recycled materials to customers across Asia, including Konica Minolta's end-product manufacturing partners in electronics and home appliances, the company added.
Konica Minolta said that it will receive technology licensing fees based on the sales done by MJ MATERIALS. The two companies have also been doing market verification with plans to commercialize the materials in fiscal 2026, it added.
The company said that the combination of Konica Minolta's sensing and AI technologies with MJ MATERIAL's integrated process from collection to production will offer sustainable and long-lasting recycling solutions as per customer requirements.
On the OTC Markets, the stock ended Monday's trading at $2.9000.
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